Tools in Transit, what are the Risks?
Tools are vital to many trades such as plumbers, electricians, builder and gardeners, but what are the risks to those essential tools and equipment whilst they are in transit?
In the main, they are at risk of accidental damage either from being carried or loaded or unloaded from your van or malicious damage such as by vandalism. They are also subject to the risk of being stolen or misplaced either from your worksite or your van.
Simply put, if you travel with tools part of your business, they most likely liable to loss, damage or theft.
If you rely on tools carried in a van to conduct your business, any damage or theft of these items could lead to an inability to carry out your work successfully, costing you money either by the potential loss of work or when it comes to replacing the items needed. Tools insurance can provide additional protection against loss or theft of your tools.
Insurance policies provide real peace of mind if you depend on your tools for a living and covers loss of tools from situations such as theft from a vehicle or physical damage while being loaded or unloaded from a vehicle. It is specifically designed to cover you in events of this nature, you may not be covered by your other insurance policies as suitably as you may need should the worst happen.
It could only take an emergency stop to send tens of thousands of pounds’ worth of products tumbling into each other and causing irreparable damage. Or the security of your vehicle might be compromised whilst stationary, with items being stolen as a result.
When it comes to insurance it is always worth considering your situation to the costs involved in taking out a policy, therefore it is important to do your research to find the right policy for you or your business.
Tools are an expensive outlay for you and your business. However, it is worth considering the excess you will pay when looking for a policy. Some policies are available with excesses as low as £50, ensuring you don’t have to worry about paying out a lot of money if you need to claim for tools that have been damaged, destroyed or stolen.
There are also specific criteria concerning tool insurance that you may need to follow to be compliant with your cover. Read the policy carefully and make sure you are following the term and conditions laid out in the cover documents. Typical policy conditions include;
- Vehicles need to be alarmed and locked at all times.
- Tools must be kept out of sight
- You may not be able to leave your tools overnight in the vehicle.
- tools that can be left in your vehicle may be subject to stipulations like being parked on a drive or secure site or building.
Tools in transit are undoubtedly at risk and tool insurance is a good way of minimising the damage caused should anything happen. It is important to keep your tools safe to keep you and your business protected.